Seller’s Market 101: Is Your Real Estate Market Hot or Not?

Is your serene street suddenly jammed with cars because of an open house next door? Does a ‘Sale Pending’ sign materialize on your neighbor’s yard a few days after a “For Sale” sign appears? Do your friends grumble about how many offers they’ve submitted on homes to no avail?

If these scenarios ring true, chances are you’re in the midst of a seller’s market. A seller’s market exists when there are more homebuyers than available homes. In this type of market, sellers have an advantage in negotiating better deals — they’re likely to sell their homes faster and for more money than they would be able to in a buyer’s market.

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We’ll break down the factors that contribute to a seller’s market with help from Kenneth Bryant, a West Virginia real estate agent with over 30 years of industry experience. He explains what a seller’s market looks like and what to expect if you’re a homeowner thinking about selling in these ideal conditions.



from HomeLight Blog https://www.homelight.com/blog/what-is-a-sellers-market/

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